Russian group buys Finnish LED company
December 10, 2008 //
A group of Russian industrial investors led by Onexim Group has acquired 82 percent of Optogan Oy (Helsinki, Finland), a startup founded by two Russian physicists. The Russian group has acquired all the shares owned by venture capital investors Via Venture Partners, VNT Management and Finnish Industry Investment Ltd.
LONDON A group of Russian industrial investors led by Onexim Group has acquired 82 percent of Optogan Oy (Helsinki, Finland), a startup founded by two Russian physicists. The Russian group has acquired all the shares owned by venture capital investors Via Venture Partners, VNT Management and Finnish Industry Investment Ltd.
However, the amount paid and the value placed on Optogan has not been disclosed.
Optogan was set up to develop and introduce gallium nitride based high-brightness LEDs. The company raised 5 million euro (about $6.5 million) in June 2007.
Optogan has a research lab at the Helsinki University of Technology and a pilot line and production facilities in Dortmund, Germany. Optogan's LEDs are suitable for general lighting, traffic lights, the automotive industry and background lighting of mobile terminals and computer and television LCDs.
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